All USA articles – Page 33
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News
Family Dollar Store profits up
Family Dollar Stores posted a 25% net income increase to $291.3m (£178.2m) for the financial year ending August 29, up on the $233.1m (£142.6m) reported the year earlier. Operating profit, as a percentage of sales, was 6.1% for the period compared with 5.2% last year. Sales were $7.4bn (£4.5bn), a ...
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AnalysisUS warehouse clubs suffer as discretionary spend dips
US warehouse club operators like Costco will have to brace themselves for more difficult trading in the near term
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News
JC Penney signs Liz Claiborne licensing deal
US Department store chain JC Penney has signed a licensing agreement with Liz Claiborne to exclusively sell its namesake line of clothing in stores beginning in autumn next year.The 10-year deal includes 30 categories from apparel and accessories, including jewellery, shoes anda home merchandise. After five years, JC Penney will ...
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GalleryDoing Dallas: How does NorthPark measure up?
The US may do things bigger, but do they do them better? John Ryan visits Dallas and one of the Lone Star state’s top shopping centres to find out how its retail scene measures up
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AnalysisUS retail: Battered and bruised, but on its way back
What happens in US retail is frequently mirrored in the UK. Financo chair Gilbert Harrison examines how the US is emerging from its brutal downturn
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AnalysisLowe’s curtails expansion as it braces for tough 2010
DIY retailer Lowe’s has followed in the footsteps of rival Home Depot by scaling back its expansion plans.
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News
Rite Aid Q2 sales down 2.7%
Year-on-year sales at pharmacy chain Rite Aid declined 2.7% to $6.3bn (£3.9bn) for the second quarter to August 29.The slide was attributed primarily to store closures and non-pharmacy same-store sales. Overall, same-store sales fell 1.1% for the quarter, with a 4.9% decrease in non-pharmacy sales and a 0.8% increase in ...
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News
Borders reports widening losses
Book retailer Borders reported widening losses of $12.7m (£7.8m) for its second quarter, compared with a loss of $10.5m (£6.4m) for the same period last year.Quarterly sales were $616.8m (£378.1m), down 17.7% from a year ago. Comparable store sales fell 17.9% and 10.8% at Borders superstores and Waldenbooks stores respectively.Chief ...
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News
Staples announces a 9% increase in sales
Office specialist Staples announced a 9% increase in sales to $5.5bn (£3.37bn) for its second quarter. In North America retail sales decreased 5% to $2bn (£1.23bn).Comparable store sales decreased 5% against 2008, reflecting declines in average order size and weakness in durable categories such as business machines and furniture. Internationally, ...
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OpinionThe billion Dollar question
At last, a retail IPO. Dollar General’s flotation is happening in the States not the UK, but success would be a sign that markets may be fully opening again and that stores can win investor backing.
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US fashion retailers struggle in second quarter
A number of clothing retailers have reported negative results in their second quarters, with only Urban Outfitters posting positive sales up against last year.Abercrombie & Fitch made a net loss of $26.7m (£16.3m) against a profit of $77.8m (£47.6m) during the same quarter last year, with total sales plummeting 23% ...
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News
Barnes & Noble posts 5% decrease in second-quarter sales
Book retailer Barnes & Noble posted a 5% decrease in second-quarter sales to $1.2bn (£700m). Store sales decreased 5% to $1bn (£600m), with like-for-like sales down 6.9% for the quarter.Sales generated by the retailer’s website climbed to $102m (£62m) for the quarter, a 2% increase compared with the year before.The ...
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News
Blockbuster Q2 revenues fall nearly 22%
Blockbuster has posted lower than expected quarterly revenues and same-store sales, blaming stiff competition for its performance.The DVD rental chain made a net loss for the second quarter that narrowed to $39.7m (£24.3m) from a net loss of $44.7m (£27.3m). Revenue fell nearly 22% to $1.02bn (£623.9m). Chief executive James ...
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NewsWeak consumer confidence continues to hit US retail sales
There was little sign of improvement in consumer confidence in the US as many retailers reported second quarter results yesterday.
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News
Retail Sales fall again in US
Retail sales fell again in July marking the 11th consecutive month of sales declines in the country.According to Retail Metrics, which tracks US comparable store sales, they fell 4.7% in July. Only a handful of retailers reported comparable sales increases, including TK Maxx parent TJX and discount department stores Kohl’s. ...
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News
Finlay Enterprises has filed for Chapter 11 bankruptcy protection
Jeweller Finlay Enterprises has filed for Chapter 11 bankruptcy protection and plans to auction its business and assets.The retailer operates 182 locations across the country, including the upmarket Bailey Banks & Biddle chain, as well as 77 concessions within Bon-Ton department stores.Meanwhile, the country’s leading specialist jeweller by store count, ...
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NewsUS sales down 4.7% in July
US retail sales fell again in July marking the 11th consecutive month of sales declines in the country.
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News
Staples International president to leave the business
Staples International president Peter Ventress is to leave the business for a chief executive position at an as-yet unnamed UK-based public company.Staples president and chief operating officer Mike Miles will assume Ventress’ responsibilities from September 1, making Miles responsible for all of Staples’ international businesses.Chairman and chief executive Ron Sargent ...
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News
Book Depository to take on US market
Online retailer The Book Depository has revealed a 50 per cent hike in revenue to £62m in the year to June 30 as it lays out plans to take on the £9bn US book market.
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News
Best Buy is trials sale of discounted laptops with internet contracts
Electricals giant Best Buy is trialling the sale of discounted laptops with internet contracts, echoing a similar initiative used by joint-venture partner Carphone Warehouse in Europe.Customers at selected stores can buy lower priced laptops if they sign up for two years with a broadband provider. Best Buy chief executive Brian ...